Dubai and London pledge to forge deeper fintech partnership

Dubai International Financial Centre (DIFC) and the City of London have stated they are to deepen their collaboration in financial technology for the mutual benfit of Britain and the United Arab Emirates.

The joint announcement followed a meeting this morning between Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, deputy ruler of Dubai and chairman of the DIFC and Peter Estlin, lord mayor of the City of London. Maktoum said he welcomed the "opening of new cooperation bridges" between the two countries.

The meeting in Dubai, which was attended by a delegation from London, discussed the global financial situation as well as specific areas for cooperation and investment in fintech, according to UAE-based agency WAM.

Areas for focus included enhancing cooperation and exchanging skills, knowledge and expertise between the City of London and DIFC, particularly relating to fintech and innovation.